As per the accounting equation, equity can be represented as __________________. Excess of assets over liabilities of the business Total of assets and liabilities of the business Excess of liabilities over assets of the business Product of assets and liabilities of the business

As per the accounting equation, equity can be represented as __________________. Excess of assets over liabilities of the business Total of assets and liabilities of the business Excess of liabilities over assets of the business Product of assets and liabilities of the business

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter2: Introduction To Financial Statements

Section: Chapter Questions

Problem 9Q: What is the accounting equation? List two examples of business transactions, and explain how the...

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Question

As per the accounting equation, equity can be represented as __________________.

Excess of assets over liabilities of the business

Total of assets and liabilities of the business

Excess of liabilities over assets of the business

Product of assets and liabilities of the business

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